Humber/Ontario Real Estate Course 1 Exam Practice

Which statement is accurate about salesperson registration renewals?

1. Insurance coverage must be renewed, coincident with registration, every two years

2. Individual salespersons are responsible for ensuring their registration renewals

3. Salesperson registration cycle is two years, but broker registration is three years

4. Salespersons must renew their registration no later than 60 days before expiration

5. Brokerage houses typically handle all registration renewals

6. Salespersons should renew their registration within 90 days prior to expiration

The correct answer is: Individual salespersons are responsible for ensuring their registration renewals

Individual salespersons are responsible for ensuring their registration renewals because, as per the Real Estate and Business Brokers Act, 2002, and its regulations, salespersons are required to renew their registration every two years. It is the personal responsibility of each salesperson to ensure they comply with the registration renewal requirements to continue practicing as a registered salesperson in Ontario. Option A is inaccurate because insurance coverage renewal is not necessarily tied to registration renewal. Option C is also incorrect as both salespersons and brokers have a two-year registration cycle. Option D is incorrect because salespersons must renew their registration no later than 30 days before expiration, not 60 days. Option E is misleading as individual salespersons are ultimately responsible for their registration renewals. Option F is incorrect as it is optimal for salespersons to renew their registration no later than 30 days before expiration, rather than within 90 days prior.